XRPL Hits 84 Million Ledgers, Cementing Its Blockchain Dominance

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  • XRPL has been reported to have closed its 84 millionth ledger after hitting the 83 millionth recently. 
  • This is said to indicate the growing adoption of the network and could have a significant impact on the XRP price.

XRP Ledger (XRPL), a decentralized and permissionless open-source blockchain has hit a milestone with the successful closing of its 84 millionth ledger. The historic development was first reported by XRPScan, an XRP Ledger explorer and network analysis platform. As of press time, the XRP ledger count was 84,019,694. This feat is said to be a sign of massive growth and significant adoption of the smart contract network.

In July, XRPL closed the 81 millionth ledger and closed the 83 millionth ledger on October 5. While the crypto community celebrates this milestone, the team is also updating the ecosystem with incredible innovation. The recent initiative comes from the introduction of two new XLS specs.

“XLS-49d: Multiple Signer Lists,” was the first to be released on the XRPL, and reported to enable the support of multiple signer lists per account. This was followed by the release of “0051 XLS-51d: NFToken Escrows,” a representation of new specs for NFT escrows.

Many reports have explained what this development means to the ecosystem especially when XRPL only supports escrows for one type of token, XRP. It is also important to note that XLS-20 is live on the network with 4 million NFTs. Just as users may want to escrow their funds, they may escrow their NFTs too.

More on the XRPL Development

Two more features will be introduced on the XRPL after 80 percent of validators supported two amendments – “fixReducedOffersV1” and “fixReducedOffersV1.” Fortunately, the EVM sidechain and XLS 38 bridge have already passed a security audit by Bishop Fox according to Peersyst Technology. 

XRPL has been one of the most efficient projects in the crypto space that enables developers to build applications that solve real-world problems. On top of the several benefits, XRPL guarantees speed, efficiency, and uptime. 

According to reports, the team behind XRPL is envisioning an infrastructure modification that could solve common problems and reward contributors. As part of a planned infrastructure revamp, XRPL Cluster Software will be built from the ground up without the involvement of third parties. 

Founder and CEO of XRPL Labs, Wietse Wind commented on this:

This is, without a doubt, the most monumental upgrade to the XRPL infrastructure since its inception, marking a pivotal moment in our pursuit of a healthier, sustainable XRP Ledger.

The platform is also expected to be an integral part of the tokenization of real-world assets (RWA) according to Ripple’s Chief Technology Officer, David Schwartz. On October 3, the Flip The Chain team shared a video on the optimism around the XRPL’s potential for RWA tokenization. This is expected to go live by next year. 

This development and upcoming XRPL innovations are expected to impact the XRP price. The asset is currently trading at $0.619909. In the last seven days, XRP has declined by 5.7 percent and surged by 1.59 percent in the last 24 hours. A price prediction platform has predicted that the asset could finish the year with an average price of $0.929864. 

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